June 1, 2011

 

Brazil and Paraguay to achieve record soy exports

 

 

Brazil and Paraguay are likely to achieve record soy exports after bumper crops this year, while a disappointing harvest will put a dent on Argentine sales, oilseeds analysts said on Tuesday (May 31).

 

Brazil's September 2010-August 2011 soy exports are likely to reach a record 31.12 million tonnes, up from 28.4 million tonnes in 2009-10, analysts forecasted.

 

This follows Brazil's record 2011 soy crop, which analysts estimate at 73 million tonnes, up from 72 million tonnes last year.

 

A good crop also means Paraguay's 2010-11 exports will increase to a record 5.64 million tonnes, up from 4.87 million tonnes, analysts said.

 

But Argentina's soy exports are likely to slump to 9.67 from 11.82 million tonnes last season. Analysts estimate that Argentina's 2011 soy crop will fall to 49.2 million tonnes after poor weather, down from 53.9 million tonnes harvested last year.

 

Meanwhile, global October 2010-September 2011 soy imports are likely to rise by 4.6 million tonnes on the season to 93.5 million tonnes, Oil World estimates.

 

China will account for 58% of the total, importing 54.2 million tonnes from 50.34 million tonnes in the previous season.

 

China's decision this year to sell part of its soy stocks to cool inflation may create pent-up Chinese oilseed import demand in July-December 2011 to rebuild the country's inventories, analysts said.

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